Markets
The Hartford Q4 Net Income Rises 36% on Commercial Lines Growth
Net income at The Hartford for the fourth quarter of 2021 ended at $729 million, a 36 percent increase from income of $537 million the same period a year earlier. For the year, net income was about ...
Markel Numbers ‘Thick’ on Underwriting, Investments, Ventures
Markel Corporation reported a "record-smashing" $628 million in underwriting profit for 2021, a figure that translated into a combined ratio of just over 90 for the year. Co-Chief Executive Officer ...
Insurer Groups Sue to Stop Washington Credit Scoring Regulations
The American Property Casualty Insurance Association, the Professional Insurance Agents of Washington, and the Independent Insurance Agents and Brokers of Washington jointly filed two legal actions ...
Threat of War in Ukraine Biggest Risk for Insurers of Beijing Winter Olympics
The threat of war between Russia and Ukraine is the biggest risk for insurers offering coverage during the Beijing Winter Olympics as an outbreak of hostilities could force team withdrawals or ...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber ...
Allstate’s Net Income Down 50% in Q4 as Auto Claims Rise
Allstate Corp. said fourth-quarter 2021 net income plummeted 50 percent compared to results of the prior-year quarter as auto claim frequency and severity increased. Adjusted net income for Q4 was ...
Kemper Eyes Rate Hikes, Agency Cancellations After Q4 Fall
Kemper Corp. said it is taking rating and other actions, including canceling some agents, as it seeks to recover from inflation-riddled fourth-quarter financial results. Kemper Corp. reported a net ...
Chubb Net Income Drops in Q4, More Than Doubles for Year
Chubb reported fourth-quarter 2021 net income of $2.1 billion, a decrease of 11.5 percent compared to the same period the prior year. Nevertheless, the insurer had what CEO Evan G. Greenberg called ...